27/02/2017
For Men Below 60 Years Of Age
Income Tax Slab Income Tax Rate
Income upto Rs. 2,50,000 Nil
Income between Rs. 2,50,001 - Rs. 500,000 10% of Income exceeding Rs. 2,50,000
Income between Rs. 500,001 - Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000
Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000
For Women Below 60 Years Of Age
Income Tax Slab Income Tax Rate
Income upto Rs. 2,50,000 Nil
Income between Rs. 2,50,001 - Rs. 500,000 10% of Income exceeding Rs. 2,50,000
Income between Rs. 500,001 - Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000
Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000
For Senior Citizens (Age 60 years or more but less than 80 years)
Income Tax Slab Income Tax Rate
Income upto Rs. 3,00,000 Nil
Income between Rs. 3,00,001 - Rs. 500,000 10% of Income exceeding Rs. 3,00,000
Income between Rs. 500,001 - Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000
Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000
For Senior Citizens (Age 80 years or more)
Income Tax Slab Income Tax Rate
Income upto Rs. 5,00,000 Nil
Income between Rs. 500,001 - Rs. 10,00,000 20% of Income exceeding Rs. 5,00,000
Income above Rs. 10,00,000 30% of Income exceeding Rs. 10,00,000
Hindu Undivided Families (HUF)
Income Tax Slab Income Tax Slab Rate
Up to Rs.2,50,000 Nil
Rs.2,50,000 to Rs.5,00,000 10% Income exceeding Rs. 2,50,000
Rs.5,00,000 to Rs.10,00,000 20% Income exceeding Rs. 5,00,000
Over Rs.10,00,000 30% Income exceeding Rs. 10,00,000
Legal Entities Registered as Associations of Persons
Income Tax Slab Income Tax Slab Rate
Up to Rs.2,50,000 Nil
Rs.2,50,000 to Rs.5,00,000 10% Income exceeding Rs. 2,50,000
Rs.5,00,000 to Rs.10,00,000 20% Income exceeding Rs. 5,00,000
Over Rs.10,00,000 30% Income exceeding Rs. 10,00,000
Legal Entities Registered as Bodies of Individuals
Income Tax Slab Income Tax Slab Rate
Up to Rs.2,50,000 Nil
Rs.2,50,000 to Rs.5,00,000 10% Income exceeding Rs. 2,50,000
Rs.5,00,000 to Rs.10,00,000 20% Income exceeding Rs. 5,00,000
Over Rs.10,00,000 30% Income exceeding Rs. 10,00,000
Partnership Firms
Partnership Firms and LLPs (Limited Liability Partnerships) are to be taxed at the rate of 30%
Local Authorities
Local Authorities are to be taxed at the rate of 30%.
Domestic Companies
Domestic Companies are to be taxed at the rate of 30%
Co-operative Societies
Income Tax Slab Income Tax Slab Rate
Up to Rs.10,000 10% Income
Rs.10,000 to Rs 20,000 20% Income exceeding Rs. 10,000
Over Rs. 20,000 30% Income exceeding Rs. 20,000
Also,
Surcharge:
a. 2% of the income tax amount (If income is greater than Rs.1,00,00,000/-)
b. 5% of the income tax amount. Subject to marginal relief (If income is greater than Rs.10,00,00,000/-)
Education Cess: 2% extra (charged on the amount of income tax + surcharge being paid)
Secondary and Higher Education Cess: 1% extra (charged on the amount of income tax + surcharge being paid)
Income Tax Deductions and Exemptions
Income Tax Section Gross Annual Salary How Much Tax Can You Save? HDFC Standard Life Plans
Sec. 80C Across all income slabs Upto Rs. 46,350/- saved on investment of Rs. 1,50,000/- All our Life Insurance Plans
Buy Life Insurance and Save Tax
Sec. 80CCC Across all income slabs Upto Rs. 30,900/- saved on Investment of Rs.1,50,000/- All our Pension Plans
Buy Pension Plans and Save Tax
Sec. 80 D* Across all income slabs Upto Rs. 10,815/- saved on investment of Rs.35,000/-
(Inclusive of Rs. 20,000/- towards health insurance of parents who are senior citizens)
All our Health Insurance Plans
All the health insurance riders available with our Conventional Plans
Buy Health Insurance and Save Tax
Total Savings
Possible **
Rs. 57,165/-
Rs. 46,350/- under Sec. 80C and Sec. 80CCC and
Rs. 10,815/- under Sec. 80D
Above figures calculated for an individual with gross annual income exceeding Rs. 10,00,000/-
Sec. 10 (10)D Under Sec. 10(10D), the benefits received by you are completely tax-free, subject to conditions specified there in
Applicable to premiums paid for all Health Insurance Plans, Critical Illness Benefit, Accelerated Sum Assured and Waiver of Premium Benefit.
** These calculations of the latest income tax slab rates in India are illustrative and based on our understanding of current tax legislations.
The above-mentioned tax benefits are subject to changes in the tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities.
Save Tax with Term Insurance - Calculate Premium
Save Income Tax with Insurance
HDFC Life Click2Protect Plus
Affordable Term Plan. Coverage upto 75yrs. Tax Benefits under Section 80C*.
Buy online >>
HDFC Life Click2Invest - ULIP
Zero premium allocation charge, 8 fund options. Get Tax Benefits under Sec 80C*.
Buy online >>
HDFC Life Health Assure Plan
Avail Instant Health Insurance Policy with Tax Benefits under Sec 80D*.
Buy online >>
HDFC Life Super Income Plan
Investment cm insurance plan with guaranteed benefits to meet your long term financial goals.
Buy online >>
* Calculations are based on highest tax benefits.
Note: These tax calculations are based on present tax legislations, which are subject to change Under section 80CCE, The aggregate deductions from income under Sections 80C, 80CCC and 80CCD (applicable in case of central government employees only) should not exceed Rs 1.5 lakhs (except an additional saving of Rs.50,000 under section 80CCD (1B) per assessment year - applicable FY 2016-17/AY 2017-18 onwards).